20,676 Shares in Montrose Environmental Group, Inc. (NYSE:MEG) Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in Montrose Environmental Group, Inc. (NYSE:MEG) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 20,676 shares of the company’s stock, valued at approximately $384,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC increased its stake in shares of Montrose Environmental Group by 175.0% in the fourth quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company’s stock worth $27,255,000 after acquiring an additional 934,938 shares during the period. Fred Alger Management LLC grew its position in Montrose Environmental Group by 33.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company’s stock worth $49,086,000 after purchasing an additional 470,706 shares during the period. Bank of New York Mellon Corp grew its position in Montrose Environmental Group by 50.6% during the 4th quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company’s stock worth $8,944,000 after purchasing an additional 161,957 shares during the period. Fisher Asset Management LLC raised its stake in shares of Montrose Environmental Group by 62.5% during the 4th quarter. Fisher Asset Management LLC now owns 280,409 shares of the company’s stock valued at $5,202,000 after buying an additional 107,880 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of Montrose Environmental Group by 7.4% in the 3rd quarter. Bamco Inc. NY now owns 1,242,630 shares of the company’s stock valued at $32,681,000 after buying an additional 86,000 shares during the period. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on MEG. Stifel Nicolaus dropped their target price on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Evercore ISI dropped their price objective on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Montrose Environmental Group has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Montrose Environmental Group Stock Performance

Shares of MEG stock opened at $14.45 on Friday. The company has a market capitalization of $500.76 million, a P/E ratio of -9.70 and a beta of 1.72. Montrose Environmental Group, Inc. has a 12-month low of $14.28 and a 12-month high of $49.97. The business’s 50 day moving average is $18.76 and its two-hundred day moving average is $20.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.